Expert accounting services
All UK registered limited companies have a legal obligation to submit annual accounts (or year-end accounts) at the end of each financial year. Websters offers a variety of accounts services suited to partnerships, groups, sole traders, and limited companies.
With over twenty years of experience in preparing annual accounts, supported by a qualified accounting team, we are confident in delivering a high-quality service.
Our accounting team works closely with our clients to ensure that all compliance requirements are met and any possible tax-saving opportunities are thoroughly considered to help you save time and money.
What are annual accounts?
Annual accounts are made up of financial records and statements from a certain period of time (usually 12 months). These documents contain important information such as the companies financial position, transactions, and operating performance. Preparing annual accounts at the end of the financial year can be perceived as a daunting task - allow our expert team to take this off your hands.
What do annual accounts include?
Annual accounts are made up of essential documents such as:
- The balance sheet - displays a company's total assets, liabilities, and equity from a certain period of time.
- The profit and loss statement - shows a company's ability to generate profit by either reducing costs, or increasing revenue. It summarises the total income and total expenses from a certain period of time.
- The cash flow statement - measures how well a company manages its financial position by summarising all cash inflows and outflows from its operations over a period of time.
- Auditors' report (unless qualified for exemption) - written by an auditor outlining the opinion of whether the company's financial statements adhere to the generally accepted accounting guidelines (GAAP).
- Directors' report - produced by the Directors outlining the current financial position of the company.
When are annual accounts due?
You must submit your annual accounts to both HMRC and Companies House - both of which have different submission deadlines.
Cost-effective annual accounts preparation
Websters' online accounting software has been designed from the ground up to streamline book and financial record keeping throughout the year. Take control of your finances with real-time accounting information and save money on annual accounts preparation.